Contractors All Risk Insurance

That will depend on factors such as: 

• The size of the project 

• The location of the project 

• The value of the contract 

• The level of security on the site 

• The value of the equipment you have there 

• Your claims history 

‘All risk’ is a type of policy that doesn’t name all the insured perils that are covered by the policy.  For example, fire, flood, storm, flood, etc. All risk means the policy will respond to all causes of damage to the works in progress. 

The main reason for purchasing a Contractors All Risk Insurance policy is to protect against the work you’re undertaking on site.  

Here are some other reasons why Contractors All Risk is important: 

• If the contract holds you directly responsible for any unfinished work, it can cover you in case something goes wrong. 

• It can cover you for damage or loss to property during the construction job you are carrying out, protecting your business from potentially costly legal expenses. 

• If unforeseen events like a flood or a fire happen, the insurance can pay to have the work repaired or re-done. 

• It can cover you for damage to tools, building materials, people, and property. 

The main reason to have Contractors All Risk Insurance is to ensure that your jobs on a construction or customer site are covered and to protect you if you need to make a claim.  

Contractors All Risk Insurance is essential for anyone involved in construction projects, regardless of their size or scope.  

This includes: 

• Main contractors 

• Subcontractors 

• Tradespeople (such as electricians, plumbers, and carpenters) 

• Developers 

• Property owners.